Leading cryptocurrencies retreated Thursday as investors took a cautious approach before the eagerly awaited U.S. labor market data. What Happened: Bitcoin surged to $71,500 during the day on the European Central Bank’s rate cut, but faced strong resistance immediately, bending below $71,000. The King Crypto has wobbled in a narrow trading range since May 20. Ethereum witnessed strong selling pressure, dropping below $3,850. Open Interest in Bitcoin futures rose 0.18%. An increase in OI coming alongside a drop in price typically indicates the opening of new short positions, interpreted as a be…
